New guideline aids domestic, foreign firms
Domestic and foreign businesses will benefit from more standardized, efficient and accessible dispute resolution services under a new judicial document, officials from the Supreme People’s Court (SPC) said. The SPC on Thursday released a guideline on international commercial courts and tribunals in an effort to regulate their services, promote high-quality development and ensure high-level opening-up.
The guideline, which includes 15 provisions and emphasizes advancing the Belt and Road Initiative, marks the first time the SPC has systematically planned the coordinated development of its international commercial courts and local tribunals. Under the guideline, foreign business entities will be provided with standardized English versions of judicial documents and litigation procedures that are relevant while resolving disputes in Chinese international commercial courts and tribunals.
News from: Supreme People’s Court of the People’s Republic of China.
